Guest Column: Sluggish Wage Growth Becoming a Thing of the Past in California

California Must Invest in Watersheds, Just Like Dams

To support our prosperity and growth, California needs to expand its investments in our physical and natural infrastructure Read more

Head to Head on Taxpayer Subsidies for Arenas

In the latest installment of Head to Head, Stanford University Professor Emeritus of Economics Roger Noll and Barry Broome, President & CEO of the Greater Sacramento Area Economic Council, discuss the use of subsides for financing sports arenas and stadiums. Read more

WHAT DOES IT COST FOR
CALIFORNIA TO BORROW?

2.16%

Representative
yield for 20-year,
AAA-rated general
obligation
bonds, according
to a major
national market
benchmark.
(as of 9/22/16)

2.34%

Representative
yield for 20-year,
CA general obligation
bonds,
according to a
major CA market
benchmark.
(as of 9/22/16)

3.19%

Representative
yield for 20-year,
CA general obligation
bonds,
according to a
major CA market
benchmark.
(as of 9/22/15)

For every $1 billion in bonds issued, CA will pay $19.2 million more in debt service over a 20-year period than a AAA-rated borrower.

All indicators reflect yields-to-call on bonds with 5% coupons and
10-year call options. Source: Municipal Market Data, licensed and
used with permission.